Indian equities pared most of its earlier losses to trade on a flat note in the afternoon session on Monday. Metals, pharma and banking stocks traded in red while energy stocks in green zone.

BSE Midcap and Smallcap index was trading down 1.49% and 1.33% respectively.

At 14.13., the Sensex was trading down 50.43 points or 0.10% at 48,984.24 with 22 components falling.  Meanwhile, the Nifty was trading lower by 32.80 points or 0.23% at 14,400.90 with 33 components falling.  

The 30-share benchmark index, BSE Sensex opened flat with a rise of 26.55 points or 0.05% at 49,061.22, while the broad based NSE Nifty started with a rise of 19.60 points or 0.14%, at 14,453.30.

Housing Development Finance Corporation  contributed fall of 93.57 points in the Sensex.  It was followed by Oil & Natural Gas Corporation  (79.71 points), Tata Motors  (65.62 points), Infosys  (45.35 points) and State Bank Of India (43.27 points).

However, Reliance Industries  contributed rise of 89.01 points in the Sensex.  It was followed by ITC  (71.02 points), HDFC Bank  (70.31 points), Tata Consultancy Services (8.25 points) and Hindustan Unilever  (3.64 points).

Major gainers in the 30-share index were Reliance Industries  (2.65%), Titan (1.99%), HDFC Bank  (1.95%), ITC  (1.22%), Bajaj Auto (0.65%) and HCL Technologies (0.50%).

On the other hand, Oil & Natural Gas Corporation  (3.45%), Sun Pharma (2.9%), Bajaj Finserv  (2.92%), Indusind Bank  (2.86%), Power Grid (2.68%) and Bajaj Finance (2.55%) were the major losers in the Sensex.

Market breadth was negative with 936 advances against 2,022 declines.